Meiya: another law firm, Minter Ellison, helps pull-off the sale by BTU

One would unquestioningly have to give a large (by their own account they have 280 partners and 1,000 legal staff), multinational, well-renowned law firm the benefit of the doubt that they know WHO their client is (who's paying their bills) and WHAT they are doing for it (what benefit the client receives in exchange). In other words, we should trust that Minter Ellison got their facts right. However, these facts don't "match" with other facts that are not subject to dispute.

The question then becomes, what are the "facts" regarding BTU's sale of Meiya Power Compay to Standard Chartered Bank?

Minter Ellison's website describes their role in the "restructuring" of BTU Ventures' equity investments . One could infer that Minter Ellison is subtly differentiating between BTU Venture's interests in Meiya Power Company and their OTHER equity investment(s) in Asia.

"Our Asian Corporate and Commercial team advised leading private equity group BTU Ventures on the restructuring of their equity investments in Asia, including their interests in Meiya Power Company, a transaction worth in excess of US$600 million."

Link: MinterEllison: How we work with clients:

As has been documented many times elsewhere in this blog, BTU Ventures is a US company, registered to do business in Massachusetts, and provides only SERVICES on a contract basis to other BTU companies.  There is a huge chasm between being a service provider and being an owner of US$600 million of investments. Moreover, something as simple as a press release makes it clear that PSEG Global sold it 50% equity interest in Meiya Power Company, for US$220 million, to BTU Power Company.

Link: PSEG sale of Meiya Power Company to BTU Power Company